Sensex up 75 points in opening trade

Mumbai: The Bombay Stock Exchange benchmark Sensex opened over 75 points higher on Wednesday, extending yesterday`s gains on continued buying by funds amid positive cues from the US market.

The 30-share index rose by 75.82 points, or 0.38 per cent, to 18,579.10 points in opening trade. It had gained 271.22 points in yesterday`s session.

Similarly, the broad-based National Stock Exchange index Nifty edged higher by 15.35 points, or 0.28 per cent, to 5,575.50.

Stocks of auto and cement companies were active in opening trade on expectations of strong monthly sales.

Brokers said the trading sentiment was upbeat following overnight gains in the US market and on expectations of encouraging monthly sales numbers from auto and cement companies.

A normal monsoon forecast also had a positive impact on the trading sentiment, they said.

In the auto segment, Mahindra and Mahindra rose 0.87 per cent to Rs 678 and Maruti Suzuki gained 0.40 per cent to Rs 1,233, while cement major, ACC was trading 1.70 per cent higher at Rs 1,044.05.

Meanwhile, most Asian markets were trading flat in the morning trade today. In the US, the Dow Jones Industrial Average ended 1.03 per cent higher yesterday.